$30 Billion Down The Auto Bailout Rathole
[A]s with most things Obama Administration - their numbers are uber-fudged.
This is, after all, the Administration that as part of tracking the nearly $1 trillion in “successful” “stimulus” money created fake Congressional districts - in which they“created or saved” imaginary jobs.
The Administration’s $23.6 billion auto bailout loss number includes a $9.3 billion hit on the 500+ million GM stock shares We the People now own as a result of the bailout.
But that’s a fudge-y number.
Right now, we’re actually losing nearly $15 billion on our shares. On a stock that dropped by a third just after the bailout, and has basically flatlined ever since.
So that ups the auto bailout loss to about $30 billion. At least.